The power of a niche marketing strategy
You'll have probably heard this before - it's really important to find your niche, and target only them. But if you’re in business it takes massive amounts of courage to consciously uncouple from a market of ‘everyone’ and purposefully limit yourself to a smaller number of potential customers.
While the dream of a Microsoft-like ‘computer in every home’ is nice, ultimately to run a successful business you just need enough of the right customers. And here’s how niching is key:
- Nicheing helps people know instantly you're for them
With a deep understanding of your target’s needs, problems, goals along their journey, you can be more proactive about what you say and do, and the language you use to say it, which immediately feels more personalised.
- Nicheing means you won’t waste time wondering what you need to say
Relevant messages capture your attention, the way an English word jumps out when you’re surrounded by Japanese kanji in a crowded Tokyo street. Your customer doesn’t have to work hard to get the message, and you don’t have to work so hard to get their attention. It’s a win win. Writing more relevant content is suddenly 100 times easier, knowing which networking events to attend is more obvious and you are perfectly positioned to show your industry knowledge and specialization in a believable way.
- Focusing on a niche gives your business focus too
Knowing exactly who you are and who you are doing it for can make a big difference to how your business runs. Focusing on a distinct, unified customer segment helps inform your decision-making about new product development, packaging, customer service, brand partnerships and even your actions beyond selling your product.
- A niche marketing plan a great way to spend a finite budget
With so many different channels available, from traditional to social media to digital advertising, it’s unlikely your marketing budget can stretch as far as you’d like. One way to get the coverage you need is to limit who you’re trying to talk to. With tight customer personas and a marketing plan based around your ideal customer, you can target readers of Wired magazine, users of parents rooms at shopping centres or online HR sites secure in the knowledge that your marketing budget is being well spent talking to just the right person.
- And finally, Google and Facebook will LOVE you.
Google have long been rewarding businesses for relevancy and usefulness, which is exactly what you get when you’re hyper-specific about who you’re trying to talk to. The more your content reflects what people are searching for when they are searching for it, the better your organic search results will be and the greater their conversion will be once they’re on your site. (More of the right customers? Right here).
When you’re ready to start focusing on a niche marketing strategy, here's how:
- Find the good customers
The ones who make you the most money, are great to deal with and who you are best able to help. Spend time analyzing your customer base to identify your A customers and use those as a model for your niche going forward.
- Pitch yourself better
What do they want? How do you help? Your brand positioning may need to be adjusted once you get more specific – do this, before you do anything else. Spell it out super clear that you are for them, and only them. It can be as simple as ‘I am XXX and I solve XXX for XXX (that’s your proposition in case you were wondering).
- Work out who they really are and what they care about
Create customer personas that reflect their lives, what they read, what they do, what they feel where they are - in writing if you like, or if you are visual, try a Pinterest board.
- Reconsider your website
Review your website in light of the above. Will it immediately hit your niche between the eyes with the message that it’s for them? Does it answer the questions they have? If not, redesign, or rewrite.
- Write them love letters
When producing content like a blog post, think through your target’s goals and the big questions they have – then write your little heart out just for them.
If you've got a niche or two in mind, we'd love to have a chat about how you can develop a marketing strategy to make the most of those opportunities - let's talk.